Weekly market preview – week of Mar. 13, 2017

Posted on by March 12, 2017

Summary

  • S&P500 index is expected to have a bounce for on the FOMC rate increase announcement and the quadruple witch expiration this week. The FOMC statement will have an impact, but we are suspicious. I expect a significant decline in the SP500 at some point.

  • Oil could stay low until the FED rate announcement Wednesday and later have a relief rally. But the rally may not change the short-term downtrend direction.

  • GOLD could have an ultra-short-term bounce around the FOMC announcement day. But as long as the price stays under $1220 more downside should be expected.

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